>> murph has been trying to drag me into this thing forever. if it gets sold off, i'm going to finally jump back in. >> final trade? >> occidental and chesapeake. a twofer today. >> there you have it today. that does it for us. have a great rest of the day. follow me on twitter. "power lunch" begins right now. "power lunch" is ov. that's the big question surrounding tech stocks today. this is certainly not a definitive answer, but look at the nasdaq. it's down about 22 1/2 points, about half a% on the trading session. >> two very big companies reporting numbers, facebook and apple. we're watching both of them very closely this hour. that will be key to how the next few trading days go. we'll have those results, and the aftermarket response to it. did bill ackman cross a line?

some of things that he's able to do, you cannot, including getting and using information that some -- some would say is insider information. is the market free and fair or not? we will explain it and fight it out coming up. my partner ty is out today, so simon is my partner down at the new york stock exchange. hi, simon. >> hi, sue. a lot of peaks and valleys. as you said we're down so far. seema mody is in times square as we start this hour with more on the stocks that quite frankly have taken everyone for a ride. >> let's talk about what's been happening with the nasdaq. even after six days of wins, the nasdaq has only regained about half of the 8% it lost since its march peak. so a lot of the family names we talk a lot about, often thought of as leading indicators have gained the most leading this bounce back. are these the tea leaves that it's back to the good old time

for the nasdaq? not so fast say the trader and investors i've been talking to. in fact they've been giving me mixed reaction. first of all they point out, look, this is not a surprise we're seeing a big rally. after a big drop, a bounce-back is on which par for the course. what's really important is commitment to the rally. scott tells me, we need to hold on to half of the gains before investors have more confidence if a longer-term rally. second, yes, we have been on this winning streak here, but it's a streak on very light volume, so it may not have the staying power. timely got to talk about the big topic, earnings, that could definitely bess a swing factor. apple, facebook really heavyweights. what they report after the bell, what they forecast is going to be huge in whether or not the nasdaq can push higher. simon? >> thanks very much for that. let's get a market flash, the show with the nasdaq down 0.35%.

>> terrific earnings fromingly adweren't enough to keep a closely watch etf from falling. in the red after two of the fund's biggest holdings reported earnings that missed street expectations. they company, too, as for gilead, it got a boost from strong sales from its hepatitis-c drug, which cost $84,000 for a 12-week treatment. that comes to $1,000 a day. one of the phi biotechs -- that's how they're trading today. >> seema, thank you so much. breaking news from the bond pits. rick santelli with the five-year bond auction. yesterday only got average demand. what about today? >> oh, today, much different scenario. all right. let's go through the internals, sue. 35 billion in five-year notes. the yield any auction was 1.732. the market was really flopping around, but it looked to me like

172.5 was trading on the bid side, offered at 172. so no matter where you peg it it trailed a bit. the good news was it was well above the ten auction average the the indirecting were close to the ten auction average, and we had the directs very solid at 18%. that's the best read since may of last year, so we walk away with a b for boy, much better than yesterday's two-year. we'll have to see how the seven-year tomorrow which correlates nicely with the duration of mortgages fares. back to you. >> einhorn sounding the alarm. in a letter to his clients yesterday, he said, quote -- now there is a clear consequence senses that we are witnessing our second tech bubble in 15 years. what is uncertain is how much further that bubble can expand and -- what might pop it, end quote. is mr. einhorn right? how do you play tech right now? different views from gym euro

and jeff kilborkilborn. >> bubble is such a strong word. it's not a bubble in my opinion until we see a ton of leverage, and not just at the institutional level. i notice margins are high right now, but until that filters down to mom-and-pop investors, because that's what exacerbates the margin call. too, i would say -- we didn't see people hitting the panic sell button. i think calling is a bubble is not correct. >> jeff, you somewhat agree with some reservations, why? >> i do, sue. i think it's misleading to say all of tech is in a bubble. is it a teeny bubble or the big chew bubble? we have to see. i think there's great values coming our way. you know, i think 2014 is a tech story. you need to be in tech, as we go into halftime this year, it could get volatile.

i think that data storage and the cloud plays, but that's smoke, down 10%, so i think it will be hesitant, but i think there is some value coming here, but i think it's a blanket statement, and he is smart, give him credit, but the fact he said some of these stocks would fall 90%, maybe he's right. there's been such wild momentum. they do have the possibility to really -- >> everything has a possibility to retrace like that, but that doesn't mean it's going to happen. i have no problem with them coming back another 5%, 6%, but we've seen bubble twice, and it looks nothing like this. there's not leverage, not guys in cabs talking to about tech stocks. >> it feels very different from the first time. >> yeah. not saying anything bad about cab drivers or anything, but go on. >> when the average guy on the street is talking about nothing but tech, that's what we saw

when the tech bubble burst of first time. >> that's what we should be looking for. >> jim likes apple and ebay, but ahead of apple's report, how would i play? >> i'm not going to tell anyone about apple today. i do like apple and am long apple. independence of today's report, if it traded 533, i would buy more. i probably will wait to see what happens, but if it stays above that level, i may take it. i'm also long ebay. you like the cloud space, but ear also watching facebook closely? >> i am. you know, i took a lot of heat for a long time when i god involved in the ipo. up here i think it's lofty, so i think honestly from the mom and positive investor, look at the xlk, the select spdr for the tech sector. that's when you'll see the

alignment, but i think -- i think you can still buy it here. >> thanks so much. appreciate it. >> thank you, sue. two big reports from silicon valley due out in a few hours. josh lipton is covering apple. morgan brennan is on facebook. shares of facebook down 10% in the last two months. now apple down almost 6% year to date. facebook is go 2.6% today, and apple, we'll look at that stock? just a second. josh, you take it first. >> well, sue apple stock is stuck in a narrow trading range, but after the tech titan reports, it could make a move lower. wall street expecting in-line quarter result, but it's the dwismt3 guidance that could upset investors, there's a worry that china mobile isn't selling as many iphones as expected. china mobile doesn't subsidize i

phones, also consumers, especially overseas, they want phones with bigger screens. apple currently doesn't offer that. pressure could come from u.s. phone carries, at&t and verizon, they're allowing they're customers not as often as they use to. if shares tumble in the after-hour, i'm told that investors should buy that dip. he says apple will move higher. and boosts its buy-back program. sue, back to you. let's go to morgan. she's in l.a. covering facebook for us. morgan? >> thanks, susan. street is calling for profit of 24 cents per share on 2.36 billion in revenue. that would be a doubling in earnings year over year, and a 62% jump in revenues, so about in line with the last quarter. this is one reason shares are still up despite the recent dip. more than 135% over the past 12 months. nearly all revenues will be

coming from advertising, so watch that number closely, especially mobile, which is expected to make up over half of the total. mobile has a huge growth driver for facebook. also, daily active users or daus, active users attract advertisers and analysts are expecting that to be over 790 million. of course, expect info on the 16 million what's app., and guidance on monetizing instagram, comments on the growing collection of app. like messenger and paper, and of course any hinds that the long awaited mobile ad network will you developed at the f8 developer conference next week. sue, back to you. >> thank you both very much. i'll send it down to simon. so, sue, let's focus down on this big debate. is dave iron horrid right? is tech in a bubble? let's hear now from john carrie

of pioneer investments and craig columbus. gentlemen, welcome to the program. john, let me kick off with you. he's being more specific than that. he's talking about what he calls the new cool kids of tech possibly be in a bubble. correct me if i'm wrong, i assume the allegations therefore rests at the foot of facebook, twitter, whatsapp and instagram. what do you think? >> my ears perk up when i hear people are saying things that could create buying -- >> i do like tech. i don't want to comment on the specific companies, but there's a lot of investment going into technology. some of it may be highly speculative, but i think it's good for the economy that people are enthusiastic, looking ahead and investing in that kind of way. >> okay you seemed to have left all the options on the table there. craig, can you be more specific about the issues, the individual

stocks that you think might be in a bubble? >> well, i haven't been the biggest bull, as you may know. i think there's a valuation issue with small-cap techs, but many of them trade lie value. i think this is dubious. many of these companies are more profitable and the nothing that we have a massively overbuilt sector, we don't have that now. so in that regard, it's very difficult than 200. i don't like that analogy at all, but i think big-cap tech is where you want to focus. >> and the question of whether he wet capital expenditure back and whether that goes into tech. >> john another area of the market that has been working so far this year, the utilities, stocks that have bond-like qualities have risen really very strongly. would you be a buyer here? >> i would be cautious. i think utilities reits behavior

well, because interest rains were benign. i would be a little careful, i think with some of those interest rate sensitive stocks. our view is in fact that rates may be moving up over the next 12 months. >> interesting. so you're bearish on utilities. craig, where are you? >> i like some of the income proxies. if you look at the end of qe-1 and qe-2, counter intuitively, but rates on the ten-year fell in both cases. 9 fed has reaped what it sows. so therefore i think you have seen the ten and 30-year yields go down. >> okay. in the meantime, we'll, john carey, and craig columbus, thank you both. new home sales not that good

today. diana olick has some of the details. >> not good at all. right on the heels of a poor showing for existing home sales, newby built homes surprise down. these are signed contracts in march, not closings, so folks making that decision down 14% from february, down 13% from a year ago. i'm laying it all on price. weak affordability. you heard me say it last year, as prices soared far faster than job or income growth thanks to those cash investors. not sustainable. now it comes home to roost. the price hit a record $290,000 in march, builders blame higher costs for land, labor, materials and low supply. housing starts are way below where they should be. we told you last year some builders actually admitted to holding off on starts in order to gain that pricing power. simon, back to you. the new uproar against bill

ackman. did his play on allergan cross the line? plus coke cola with my good colleague sara eisen. >> a big shareholder meeting is under way. the ceo is addressing the crowd. and some of the drama in this meeting, after the break. er the. [ grunting ]

i'm taking off, but, uh, don't worry. i'm gonna leave the tv on for you. and if anything happens, don't forget about the new xfinity my account app. you can troubleshoot technical issues here. if you make an appointment, you can check out the status here. you can pay the bill, too. but don't worry about that right now. okay. how do i look? ♪ thanks. [ male announcer ] troubleshoot, manage appointments, and bill pay from your phone. introducing the xfinity my account app. welcome back to "power lunch." i'm seema mody. check out the defense sector,

having a nice day, all a boost from strong earnings from the likes of general dynamics and northrop grumman. simon, over to you. thank you, seema. coca-cola's ceo is speaking today. shares for the session flat, but they've had a tough year so far, down the best part of 5%. in the last two months, the stock is up almost 10%, however, sarah eisen is monitoring the meeting. >> it's an unusually suspensionful meeting because of the debate on executive pay. first the ceo has addressed coke coal -- talking about the tremendous size and scope of the business. some of his priorities like growing sparkling beverages, investing in the brands, but then the shareholders will get a chance to vote.

this is the suspenseful part. it comes down to coke's equity plan, which includes plans to issue shares for management compensation. one coke shareholder, david winters of wintergreen has raised a very public campaign in the last few weeks in letters to shareholders, the board and warren buffett, to vote against this equity plan. winter said it's a raw deal for investors, dilutes the values of their shares. coke has been very vocal as well, disputing winters' math say it's more like 1% and completely in line with coke's history. so the managers only get paid if investors get rewarded. winters only owns about less than 1% of the stock. the question will be will the other big shareholders side with him and vote against this plan? warren buffett, of course, the biggest shareholders of coca-cola. no word from him leading up to

this meeting on the coke equity plan. we'll expect the preliminary results around 2:00 p.m. in the hour of "street signs" and then talking to warren buffett. there's a lot more to come on cokehead lines, but to keep it all in perspective, the backdrop to consider here, look at coke shares versus the s&p in the last five years, muhtar was paid about down about 33% from 30 million in 2012. the stock has underpreismd, up less than 100, s&p 500 up about 120%. even factoring in the dividends, simon, coke has underperformed, so something to this think about. >> on a headline level 30rks%. sarah, thank you. just to reinforce the point. warren buffett will be on with becky quick, a lot to talk about hopefully we can talk too about the underperformance of coke. berkshire hathaway is the top mutual fund owner.

here are some of the others. sue? >> it's going to be an interesting conversation. we're going to talk about bill ackman's latest move on allergan. it's sure to make him a lot of money. but a lot of investors are screaming insider trading. see why so many say ackman's move is neither free nor fair. that's ahead. plus the power pitch. coming up, power pitch pumps up the volume. >> welcome to power -- >> it will make anybody sound like a rock star. >> but will the panelists think it's a smash hit? >> why don't you jump up and show us what this can do. ♪ ♪ ♪ ♪ dance so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly.

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they can help protect us from a world of unseen danger. it's the stuff of science fiction... minus the fiction. and it is mercedes-benz... today. see your authorized dealer for exceptional offers through mercedes-benz financial services. welcome back to "power lunch." check out spectrum pharmaceuticals, the stock moving higher after it said it expected to see approval for the blood cancer drug in the third quarter. its treatment was shown to be safe and effective in a key mid states trial. it does have a market cap of $468 million, the stock trading three times the normal volume, currently up about 6.8%. sue? >> thank you so much, seema. it's time for the power pitch where entrepreneurs get 60 seconds to make their pitch, and our panel of experts decide.

>> you don't need liquid courage. if you can't sing, then this is for you. it's the next guitar hero for singers. >> my name is eric. >> oh, hi and may name is john. >> and together we are co-creators of the company singtrix. singtrix is the next generation karaoke machine that makes everyone instantly sound like their favorite rock stars, no experience necessary. our studio is powered by the most advanced live vocal effects, including studio quality pitch correction, and jaw-dropping live vocal harmonies that transform a

single voice into a choir or vocal super group. it works with any device in any music from around the world. we also offer up subscription-based karaoke app. with more than 13,000 songs with scrolling lyrics. singtrix is poised to take over the world stage as the ultimate living room party experience. mark my words. >> i'm mandy drury. on the right screen you see john and eric. they are the cofounders. they can hear us, but can't react just yet. we have scott keenie, who is known as dj ski, in addition to headlining tours, he's produced artist from snoop dogg to michael jackson, and named on the list of influential under 30.

and -- guys, great to have you with us. let's huddle up. ryan, what do you think about this? >> karaoke, isn't part of the fun being bad at it? if you look at it and say, hey, if everybody was really good, are you going into karaoke competitions? on when you're out at night, are you able to laugh at somebody? i can see where it works for some, but for others it might be up in the air. >> what about you, dj? >> my concern is the cost. it's $300 for the one-time package. i don't see the consumer base being that into karaoke, where you shell off the cot of a video game -- >> i'd like to know how they're doing, so a few questions from me as well. come and sit down. this is the hot seat for you. ski, why don't you ask the first question. >> it seems to be the coolest karaoke product, i love the

barry white voice and would love to do it right now, but how big is the market? >> in the u.s. it's not that big, but like guitar hero, the market -- it's when you give people new technology, it gets people singing who have never sang before. >> do you have a retail partner, and what are you doing for branding? >> singtrix is for sale. we've done over dollar 1 million of business since we launched in november. these zero advertising. peer -- >> who is buying? is it like a retail guy? like us? or a professional karaoke bar? >> it's an average people. >> how easy is this to set up, put together -- >> we shot a lot of video. we have setup videos. how do you unbox this thing? how do you plug it? >> would you like to jump in

with a question? >> i saw some users have banner ads in the app., they shouldn't get those when they're paying $300 for the product and a monthly subscription fee. >> if you don't pay for a subscription, you will get ads, if you do pay -- that might have been someone not understanding the temperatures of service. >> what percentage of people do you think out there are doing the subscription service versus the free service. >> very high, actually, in the 30% to 40% range. we need to know bl you are in or how out. >> i almost wish this was lit up into something that might be bigger, you could market toward the bars and places that may spend more, and put together a consumer version that was much cheaper that identified just for the iphone or app.. if you could do that, i might be in. but because of just the high cost, i don't know how big the market is. again it's the cost of a video game system. for those systems, i would have

to say as much as i want music products to success, i am out. >> what about you, ryan? >> i think sometimes you have to bet on the jockey and not the horse. i think these guys have a terrific background. i think as technology gets there, this will continue to improve, this could be phase one, phase two. you can't go wrong with the jersey boys. i would say i'm in. >> if they can get their strategy right, go global, get into the asian market, iron a tentative in. so guys, you have one out, one in, what do you think? >> you could take any song off your itunes, plug it in, hit a butting to strip back the lead vocal, but it will work with any music, any language, any style, any type. >> and a whole lot of fun. bottom line. we wish you the best of luck. thank you so much for john and eric, and to our panelists ski and reian. that is today's power pitch.

my son daniel would be all over that. well, you heard what the panel had to say, but now we want to hear from you. are you in or out on the karaoke start-up singtrix, log-on to powerpitch.cnbc.com, or log on with the #powerpitch. gold bullion has broken it's losing streak. house been figures may have helped. i'm not really sure. that's where we stand on metals at the moment. let's get down to rick santelli at the cme. >> you know, simon, it wasn't a bad auction. remember the five year is the sticky part of the curve. under the most selling pressure, keeping yields slightly higher. look at an intraday of fives. you can see after 1:00 eastern, not bad. yields coming up a bit. let's go to the other end of the

curve, to the 30s, which have been the most -- you can see there was a little pop there as well, but all maturities are down on the day. how is it correlating with the risk on/risk off. here's an intraday dollar/yen, still correlating well with u.s. interest rates. thank you, rick. so ahead of bill ackman's proposal, it's not clear that he was busy building his own stake in the botox maker, or more accurately his funds stake in the botox maker. so how did he do it? dominic chu is here to break down what is a fascinating sequence to events, dom. >> a great story. a fund partnerses with a pharmaceutical giant. now, the unlikely pairing kicked off in february of this year, ackman and valeant's kreismt on the michael pearson struck a pact. now, the buying of that stock

started on february 25th. what you're seeing here is a chart of the stock price behind me. it started off with 174,000 shares that they bought, another 422,000 shares just the next day. it worked out to be around $76 million in terms of allergan shares in the two days. the team switches up the strategy and call options among other things. remember, now, call options are simply contracts that allow you the right but not obligation to buy those shares at a certain price in the future. now, by april 10th here, the duo built up a stake in allergan. the next day they controlled over 5%, and this is important, because it meant that ackman had to tell regulators that he had a stake in this company within ten days. but ackman and the team didn't stop there. they kept buys thor call options, added another 4.7%

stake by april 21st, the stock price climbs. for you numbers fans, that's a 9.7% stake in allergan worth nearly $4 billion, so a very big deal. that's the way they got into it, sue, so a fascinating story about a public company and hedge fund teaming together. >> it really is. some say it will set the stage for the way deals are done in the future. thanks, dom. mr. ackman's latest move could make him a lot of money, but a lot of investors are screaming insider trading. why did they do it this way? kate kelly is there to talk with us about it. >> despite his penchant for publicity, bill ackman knows how to navigate quietly. he did it through the over-the-counter options market, giving him the economic equivalent of the 10% long position that dom was talking about without the reporting requirements of buying actual stock far in advance. doing that could well have

triggered the need for regulatory filings that would have alerted allergan of ackman's plans and no doubt raise the stock price along the way as public investors became more aware, but still trying to build that important 9.7% stake. critics are crying foul, sake ackman clearly had inside knowledge of the takeover plans and that, by teaming up with the takeover company itself, he was able to effectively create his own destiny here, since this is an attractive deal that stands a pretty good chance of getting done. the stocks are popping in the interim. a regular joe investor would never have had perhaps the strategic playbooed that would have been needed to pull off such a move. this is another example of an unfair playing field, but technically it's quite legal. he forged a with the express purpose of help him and you can't preclue company a from

taking over xooismt b, and ackman says he's basically an extension of company a. give that he put in more than 3.5 billion as compared to valeant's 76 million. >> indicate, stay with us to talk about this. we'll talk about the move and is it free and fair? michelle caruso-cabrera joins us as well as eamon javers. in the past you've made the point you don't there should be anything -- >> i don't even have to make that point right now. he's trying to buy a company. in order to buy a company, you have to buy the shares, beginning and end of story. if you think, my gosh, the stock is going up the minute everybody knows, if you use that logic, carl icahn and warren buffett could never be involved. that's not fair? that's the way it is. if you're going to buy a company, you have to buy the

stock. >> look, sue, what we've got here is a classic case of how rich and powerful people use their money and power to become more wealthy and powerful. what ackman did also involves a washington connection, which is rob qassami. he's been working on some of the lawyer work here to make sure it states on the right side of rules. a lot of people may by from us traded, but the players in the game have to play by the rules as they are. ackman is making the case he didn't get any information from anybody who had a fiduciary obligation to keep that information secret, therefore it's not insider trading. >> i spent yesterday at the presentation that they made together. four-hour presentation with q&a about the structure of this deal, and there were a lot of questions from investors in valeant about how long bill ackman would be willing to stay a shareholder and what happened

in the allergan deal didn't come occupy. if a competing or better offer came in and ackman decided he want to do go in a different direction. he says hi understand why this is a critical questions. the investors want to think he's not a short termer, that his interesting are aligned with valeant, he doesn't technically have the fiduciary responsibility that management does, but in essence, he wants the same positive outcome, and he's willing to do it. >> is the deal likely to get done? yes, but it is not guaranteed. his money is at risk if the deal fails, and that is possible. he'll lose all the legal fees he's invested in this, which is a lot, and those shares will fall again. >> eamon, weigh in on any contributions that mr. -- >> listen, ackman is a very politically savvy guy. one of the things that's hit

headlines in recent weeks is the fact that ackman has contributed money to the new york attorney general snyderman over the past several years, going back a ways to 2010, 2012, about $30,000 in total. that spreading of goodwill can help when it comes time to get down to the nitty-gritty. i should say, of course, that ackman's side and snyderman's side say there's no quid pro quo. >> and he would not be the only hedge fund managers that makes political contributions. >> and this would not be the only political figure to take it. >> but snyderman is very famous for putting out a press release about somebody he's going to try to prosecute, right? he's always sniffing around for something. in this particular case, it will be interesting to see if he tries to get involved. >> weigh in on that, kate. >> bill ackman, one thing he is never shored on is preparedness

and research. eamon mentioned rob -- i noticed him for four hours yesterday, there was no question that stumped him. he obviously has heavily researched the legal aspects, the market structure that needs to be set up in order for him to profit, valeant hopefully to profit. public shareholders so far should probably by happy, right? as is valeant's let's not forget this is a vote of confidence in valeant. could an average investor pull off something like this? would they have the strategic background? no way. that's a fairness question, but legally as well as a shareholders in either company, you can see -- >> it's a lesson question as well, right? when you have dry powder and capital, you get more opportunities. we see it over and over again. i would have loved the deal that goldman sachs gave to warren buffett during the crisis, but guess what? i don't have the money. warren buffett has the money. if you have the money, things

will be brought to you that are very interesting that other people don't get. good investors are rewarded for that. they should not be punished for that. >> it's probably worth noting that pershing square has taking a beating because of the herbalife position, but nonetheless they're performing well. in the hedge fund community, people are jealous because -- >> absolutely they're jealous. >> jealous? >> and have that leg up in order to participate in the takeover and increase their chances of getting it done? that's a pretty powerful hand. >> and he did it in a very different way. i've got to go. eamon, hold that thought. i know you're on later today. simon, down to you. in the meantime spring is in the air. we have a new development in luxury travel. one hotel brand is getting into the private jet business. who is offering the service and for how much? we'll stay tuned to "power lunch." lunch."

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welcome back. a tough day for netflix.

hbo has agreed to license older episodes of the library for amazon. the deal represents the first time hbo has struck a pact with an online video provider. errier this week netflix said it would raise prices for new members. seema, thank you very much. the four seasons is getting into the private jet business. robert frank joins us with the story. it is a pretty story. >> this is the latest weapon in the lux injury travel wars. the first four season private jet, a converted 759 that will hold just 52 people instead of the unfortunate 200 or more. it has the four season logo, and service on the inside. now, the plane will carry passengers on four season private jet tours, tours of exotic locales around the world where guests spend weeks eating the best food staying at top

resorts, having expert guides, and wildlife, and private jet tours have become one of the fastest-growing segments, companies like abercrombie and kent, national geographic and others are selling thinks things out. now, right now they all use charter planes, so toronto-based four seasons hopes to gainage edge in the business by offering better experiences with its own plane. >> we have or dedicated consequence years of age. the meals have been sourced by four seasons chefs. all of the staff including the aviation staff have gone through four seasons university, so that they understand the expectations of our guests. >> you want to take a private jet tour, you can charter the jet, a ten-day trip will cost you about $2 million. you have to stay at a four seasons resort if you charter

the plane, and for $2 milan free wifi in the room. >> and a key to the bar. chartering an outside yet would not give you the control over the quote/unquote experience. >> you're absolutely right. they want the four seasons level service and amenities from start to finish. by chartering a plane, you never know quite what you get. >> and you get the mini fridge key. we've been talking about david einhorn warning we're in a second tech bubble. we're going to break down the stock movers today, plus a look at the tech high flyers, valuationses. all of that still ahead on a very busy "power lunch." stamps.com is the best.

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no news why, it may just be

profit taking. the stock was up nearly 10% over the past week before today's losses gravity taking hold of tesla today. simon, over to you. we're beginning toss the nasdaq fall further. >> taking a breather after six days of being in the green. it wasn't enough to offset amgen having the drawn. overall the index is down is%. were see weak there's there. apple and facebook you lower ahead of the base edges.

so certainly a bud i big loser in today's trade. >> thank you so much. she'lla. appreciate it very much. let's look at where we are. we're going to talk techs like it's 1999 with dominic, right? >> here's what we have done. we've compared some valuations. is it tech bubble? maybe, maybe not. you know, these days you look at some of the valuations that were happening, but take a look at some of these valuationses back in 1999, 2000. three companies that are, by the way, still around today. on a multiple basis, check this out in terms of bubble issues. >> hold it, we're going to go to a break and do that -- that was a tales, ladies and gentlemen. we're back in a second. k in a s. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years.

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we're going to take a look at some of high flying tech stocks, valuations from back then 1999-2000, and put it in perspective. >> we wanted to find names that were back then, and these are, qualcomm, juniper, were all around the tech boom, and are still around today. we wanted to look at the value indications then, back then

qualcomm, internet capital group, juniper networks, this is staggering. >> to put it in perspective. >> qualcomm was a 580 times multiple stocks. internet capital group had a 2300 times earnings valuation, and juniper networks, which is still around, they do fiber, cables, all these equipment stocks, 38,000 times earnings. to give you perspective, it's impossible to go apples to apple. >> it's not the same market, but this is what bubble issues look li like. some of the big momentum names today. reguinneren is in there, but we've been talking about it, facebook as well as amazons, because dao regeneron, facebook at 104 sometimes earnings, and amazon at 550 times, so maybe a

little bubblicious, but not the 38,000 times earnings. remember, there was a time when ge was a 500 some million dollar company. >> you have to rub it in. >> microsoft 600 billion. >> ge used to own us and we all had stock options. we were rich, at least on paper. thanks very much, dom. stock slips a bit. then they're down a bit more. we have big winners. first, let's see what's up on "street signs" hi, brian. >> thanks very much. get this, warren buffett is going to be first on cnbc during this hour, becky quick is sitting down with warren. he's just finishing up the annual charity lunch in new york city. he's going to join us to talk about the lunch, maybe what they talked about, and hopefully more investing ideas for the oracle of omaha, plus whether ceos are overpaid, and maybe a new scandal brewing at the i.r.s.

all of that, "street signs" at the top of the hour. "power lunch" returns after this. we'll see you then. ♪

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screen, this as it trying to leverage products on the big screen and halt the swoon selfbarbie sales. >> let's check on some of the stocks that have been real winners. that's it for "power lunch." "street signs" begins right now. warren buffett, a fight over coca-cola, yet another i.r.s. outrage. how is that for an hour? hi, everybody. a huge hour ahead. we are expecting to hear from warren buffett, and get some advice you cannot afford to miss. plus why old retail is suddenly red-hot again. and what just happened at the i.r.s. should make every taxpayer